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Sep 28, 2012
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would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at oil prices here, crude prices are still down today, but what a quarter it has been. all the worries about the tensions between iran and israel with those iran sanctions going into effect at the beginning of this quarter also helping to boost. the big story this quarter, and certainly today, has been gasoline. despite the fact that normally we see prices starting to come down during this quarter, they have actually ratcheted up the best quarter we've seen in years. today we had a huge explosive short move at the end of the day, maria, that really, really punctua
would steve jobs have done that? we'll look at that coming up. >>> then, if a body is found buried in your front yard, will you move out? maybe not if it's the long lost body of jimmy hoffa. could make that home a landmark. that and more coming up on the "closing bell." stay with us. >>> certainly it was a solid third quarter for the stock market, but then you look at energy prices and how they fared. that's a different story. >> yeah, you know, if you look at...
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Sep 21, 2012
09/12
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steve grasso? >> everything that you just set up as a premise is not relying -- the market's not relying on fundamentals. the market's relying on qe3. the pop that you've seen in joy global when we saw that coming out of qe3 announcement, i think that might be a little bit long in the tooth you want to be careful getting into these. any pull back in the market, these are the ones that will be further sold. >>> coming up in the next hour, companies duking it out rather than aiming for partnerships. we'll talk with one ceo about to have a big fight on his hands. >>> but first, final trades when "halftime" comes back from the new york stock exchange. managing my diabetes is part of my life, between taking insulin and testing my blood sugar... is this part of your life? freestyle lite test strips? why, are they any... beep! wow, that hardly needs any blood! yeah... and the unique zipwik tab targets the blood and pulls it in. so easy. freestyle lite needs just a third the blood of onetouch ultra. really
steve grasso? >> everything that you just set up as a premise is not relying -- the market's not relying on fundamentals. the market's relying on qe3. the pop that you've seen in joy global when we saw that coming out of qe3 announcement, i think that might be a little bit long in the tooth you want to be careful getting into these. any pull back in the market, these are the ones that will be further sold. >>> coming up in the next hour, companies duking it out rather than aiming...
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Sep 7, 2012
09/12
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steve? >> what do i need to be here for? john is telling her what to say. >> i'm going to let him answer for me. >> ubs says payrolls to prompt qe 3. goldman says probability cuts next week is above 50%. >> i think they pulled the trigger on this week r next week. i think they are going to announce the best thing that i could think of them doing is some form of conditional thing, meeting to meeting thing. and let me give you an inside fed speak thing. >> let me set the stage. earlier in the week you were on the program saying that there is this fighting behind the scenes. >> right. >> i'm telling you what i think is the majority of the board. many think that they can do more with policy. the federal reserve stepped forward and said we're at the zero balance. we have interest rate to cut and therefore we're going to do quantitative easing. it's the flip side of rate cuts. except there is a crucial difference. they only did qe in lump sums. how do they cut rates? in quarter and half points. what i think the fed may try to do n
steve? >> what do i need to be here for? john is telling her what to say. >> i'm going to let him answer for me. >> ubs says payrolls to prompt qe 3. goldman says probability cuts next week is above 50%. >> i think they pulled the trigger on this week r next week. i think they are going to announce the best thing that i could think of them doing is some form of conditional thing, meeting to meeting thing. and let me give you an inside fed speak thing. >> let me set...
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Sep 14, 2012
09/12
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a&r up 28% in the last week. >> steve grasso, clf, anr, btu, aci. what's your biggest play? >> you have to believe this is about all ben at this point. >> isn't it? >> it is. how much more can it be about that, and when do fundamentals come in at all? anr is a good name to play, but you have to look at net coal prices. they went from 206 to 170. you would think the prices of these names should come in at 15%. they haven't here. i think they're topping. if you want to dabble, play very small. the risk is so huge on a lot of these names. >> look at the move in one week on anr. 28.5% in a week. >> i love that name, and i got out of it way too early. i sold some upside calls against the position i had in anr. so now i'm going to be done. i actually own the stock, but the calls i sold are way in the money. that trade is gone. take a look at two names you didn't pick up. walter and tech resources. both are many froing extremely well low off the lows, two names i prefer to the others out there, but all names are working in the same direction. >> the highest flub of 52-week highs th
a&r up 28% in the last week. >> steve grasso, clf, anr, btu, aci. what's your biggest play? >> you have to believe this is about all ben at this point. >> isn't it? >> it is. how much more can it be about that, and when do fundamentals come in at all? anr is a good name to play, but you have to look at net coal prices. they went from 206 to 170. you would think the prices of these names should come in at 15%. they haven't here. i think they're topping. if you want to...
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Sep 13, 2012
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steve, your thoughts. as yo were saying earlier, the fed is essentially throwing the kitchen sink at the economy right now. >> well, no. not just the kitchen sink. you're understating my exaggeration. >> i know where you're going. i thought i'd let you say it. go ahead. >> they said they're going to throw the kitchen sink and warn that the stove and refrigerator would be next. that's, i think, when he says, look, we're not just doing mbs. if we need more, we're going to do more. additional asset purchases different from mortgage-backed securities. in the press conference, i was struck by how -- i guess the best word is populous, the chairman was. he addressed his critics, those who say that we're hurting savers. we're risking inflation. so he went right after the kind of political issue. he addressed main street. he said, hey, this is a main street policy. it's about people getting lower interest rates. i think that he agreed with me when i asked him the question about whether or not this would mean additi
steve, your thoughts. as yo were saying earlier, the fed is essentially throwing the kitchen sink at the economy right now. >> well, no. not just the kitchen sink. you're understating my exaggeration. >> i know where you're going. i thought i'd let you say it. go ahead. >> they said they're going to throw the kitchen sink and warn that the stove and refrigerator would be next. that's, i think, when he says, look, we're not just doing mbs. if we need more, we're going to do...
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Sep 13, 2012
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steve liesman, we talked about it. we got it. qe3, maybe qe4. $40 billion a month, $480 billi billion over the year. >> our panelists pegged qe3 at $42 billion a month. am i right it's all mortgage backed securities? that's interestinging. it shows where the focus of the fed is going to be right here. and the fact that it seems to be reasonably open-ended also in line with market expectations. so i think the thought here is the fed put out sufficient signals. the market grabbed it. our panelists actually showed 90% of this happening and the federal reserve delivered. i think it's a bit of a surprise it's so much concentrated in the mortgage back. i wonder if there was concern it would cause market interference. maybe there's a bit of a political nod here in that the fed is not there buying. so by buying mortgage backed securities they may be sidestepping that. that's really a side political notoriety here. but this $40 billion a month and being open-end, i think the question is going to be to chairman bernanke, what's the criteri
steve liesman, we talked about it. we got it. qe3, maybe qe4. $40 billion a month, $480 billi billion over the year. >> our panelists pegged qe3 at $42 billion a month. am i right it's all mortgage backed securities? that's interestinging. it shows where the focus of the fed is going to be right here. and the fact that it seems to be reasonably open-ended also in line with market expectations. so i think the thought here is the fed put out sufficient signals. the market grabbed it. our...
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Sep 28, 2012
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steve, thank you. you haven't got a light, have you, steve? >> no, do you want me to go get you a pack of panama? what was those cigarettes you used to smoke? >> i think this is -- i don't think i can say what this is. >> he already has a cigar over here. >> steve doesn't have a return feed. >> last time i had one of those with was our dear friend guy johnson and it didn't end prettily. >> rarely does. steve, thanks very much indeed for that. i'm now not going to get reelected holding one of those up. i'm not running so it doesn't really matter. talking about our politicians, i won der if pierce stein brooke smokes in public. likely to be the german social leadership candidacy for the chancellor ship. well keep our eyes on any reaction to that. >> a drunk trader has been blamed for an oil price spike of more than $1.50 a barrel back in june 2009. steefr p steve perkins allegedly spent $520 million on oils futures contracts while intoxicated. he's been fined 72,000 pounds as a result and been suspended for five years. the fine pails in comparis
steve, thank you. you haven't got a light, have you, steve? >> no, do you want me to go get you a pack of panama? what was those cigarettes you used to smoke? >> i think this is -- i don't think i can say what this is. >> he already has a cigar over here. >> steve doesn't have a return feed. >> last time i had one of those with was our dear friend guy johnson and it didn't end prettily. >> rarely does. steve, thanks very much indeed for that. i'm now not...
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Sep 28, 2012
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got to diffuse it, steve. thank you very your thoughts. >>> new york city apparently isn't in financial ruin. the city, in fact, is shelling out $230 million to build, ta-da, the world's largest ferris wheel. you're looking at an artist's rendering of the proposed 625-foot structure. the ferris wheel would stand taller than the london eye and also the one in singapore, which is the current record holder. construction is slated to begin in the next year and a half. so in 2015 we will be lining up for the ferris wheel. >> i can't wait. >>> all right. one year ago lenny kravitz was doing this. yeah, he was rocking the crowd on national tv on the "today" show. you'll not believe where lenny it performing now. i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructur
got to diffuse it, steve. thank you very your thoughts. >>> new york city apparently isn't in financial ruin. the city, in fact, is shelling out $230 million to build, ta-da, the world's largest ferris wheel. you're looking at an artist's rendering of the proposed 625-foot structure. the ferris wheel would stand taller than the london eye and also the one in singapore, which is the current record holder. construction is slated to begin in the next year and a half. so in 2015 we will be...
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Sep 3, 2012
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>> he did. >> but bill didn't come. >> no, he sent steve. >> he sent steve. it wasn't steve. he sent steve. >> well... steve's the one who came. >> shortly after, allen left, but he got to hold on to all his shares. it's hard to feel sorry for him. he was 30, cured of cancer, and owned nearly a third of microsoft. so you built this building? >> yeah. >> after the company went public, allen became one of the richest men on earth, at one point worth an estimated $40 billion. gates would spend another two decades running microsoft, launching word, windows, and explorer. >> thank you. >> and once he retired, he devoted himself to eradicating global disease and improving education. allen has spent his wealth on a hodgepodge of many interests. for instance, he plays electric guitar, so he has his own personal rock and roll band to jam with. and he bought jimi hendrix's woodstock guitar for $750,000. is it true that you have actually jammed with mick jagger? and bono? >> i've played with mick and bono and peter gabriel and a number of other people. it's amazing. >> he likes science
>> he did. >> but bill didn't come. >> no, he sent steve. >> he sent steve. it wasn't steve. he sent steve. >> well... steve's the one who came. >> shortly after, allen left, but he got to hold on to all his shares. it's hard to feel sorry for him. he was 30, cured of cancer, and owned nearly a third of microsoft. so you built this building? >> yeah. >> after the company went public, allen became one of the richest men on earth, at one point worth...
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Sep 13, 2012
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on jobless, i'll defer to steve. the people i'm talking to at this point in the game, i'm hearing anywhere between 350 and 400 just doesn't excite people anymore other thanks you know, trading a little bit on the machinations of how it moves. we're still left with a market that's hovering in the 170s on a ten-year. 290 on a third year. this is after we saw a little moderation. the dutch elections actually went right down kind of pro europe. so we're going to have to assimilate some of this new political information. back to you. >> all right, rick. stick around for a minute. steve, why don't you weigh in on this. the 382 for the weekly jobless claims, up 15,000, how does that go when it goes into the fed's machinations? >> i think the direction matters quite a bit. you know, we've been out from a bottom of 350. the range is 350 to 400. if we start to creep up, certainly you can expect no help from the jobless claims numbers when it comes to the overall payroll reports. i would have some concern about the rise of 15,0
on jobless, i'll defer to steve. the people i'm talking to at this point in the game, i'm hearing anywhere between 350 and 400 just doesn't excite people anymore other thanks you know, trading a little bit on the machinations of how it moves. we're still left with a market that's hovering in the 170s on a ten-year. 290 on a third year. this is after we saw a little moderation. the dutch elections actually went right down kind of pro europe. so we're going to have to assimilate some of this new...
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Sep 6, 2012
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>> yes, you're on steve. you're up. >> he's just talking about what he's calling omts, outright monetary purchases, omps, to address severe distortions of government bond markets which he say originate from severe distortions and unfounded fears and i'm just going to listen to the details right now but he's just now saying that the governing council agreed upon what he's calling the modality is the ways they're going to do it. we're listening right now. >> steve will be listening to some of the points. michelle has been listening in, too? >> hi, guys. while steve was talking something else he said was a fully-funded back stop that you can translate that probably to the unlimited part, about the unlimited buying so that's going to be one of the key things, fully funded meaning they're all in. >> one of the points, michelle, that idea of the governing body signing off on this, is that to answer any of the doubts we had about the bundes bank? >> absolutely. the fact he's saying this and ollie rend and juncker we
>> yes, you're on steve. you're up. >> he's just talking about what he's calling omts, outright monetary purchases, omps, to address severe distortions of government bond markets which he say originate from severe distortions and unfounded fears and i'm just going to listen to the details right now but he's just now saying that the governing council agreed upon what he's calling the modality is the ways they're going to do it. we're listening right now. >> steve will be...
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Sep 27, 2012
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senior economics reporter steve liesman joins us to break it all down. durable goods, orderer were awful, horrendous, jobless claims improved, though. >> you know, i have a theory, michelle. and i think these guys to my left and on the screen over there are waiting for more specific signals from me and the economic data before they figure out -- if you think about the five down days we've had, it's down like 1.9. it's essentially a sideways move. up 46, you said highs of the day. i don't think anybody here is jumping out of the chair. that's because the signals are really mixed. take a look at the data. the gdp with durable goods down 13%. don't get too excited about that. a lot of that was aircraft orders. second quarter gdp down by 14%. midwest manufacturering, claims, though, went down 26,000 and the payroll revisions, that's through march of 2012. up by 386,000. so a little stronger employment in our rearview mirror and current. so the jobs are doing okay, i guess, is the best way to say. where gdp is weak -- >> hold on one second. can we bring up th
senior economics reporter steve liesman joins us to break it all down. durable goods, orderer were awful, horrendous, jobless claims improved, though. >> you know, i have a theory, michelle. and i think these guys to my left and on the screen over there are waiting for more specific signals from me and the economic data before they figure out -- if you think about the five down days we've had, it's down like 1.9. it's essentially a sideways move. up 46, you said highs of the day. i don't...
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Sep 10, 2012
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very fundamental difference. >> steve? >> what do you think would be the most effective thing the fed could do. now, you mentioned -- just for the backdrop you mentioned given such a huge, huge qe-3 is probably out of the question. would it be something like not paying banks anything for holding their excess deposits, foring them to lend to get some return on capital or where would they go? >> i think that's one of the three options that would make some sense. but i think what else might happen is just a reassurance that in spite of all of the incentives they've put into the marketplace, all of the assistance that they've put into the market, inflationary pressures are still muted. to me that would be the most important thing that they can say and that they would continue to look at other options that they may have to invoke in the future. >> you think fed action would be effective at this point, sir? >> not in terms of its impact on the economy. the only possible impact it would have would be psychological. i don't discou
very fundamental difference. >> steve? >> what do you think would be the most effective thing the fed could do. now, you mentioned -- just for the backdrop you mentioned given such a huge, huge qe-3 is probably out of the question. would it be something like not paying banks anything for holding their excess deposits, foring them to lend to get some return on capital or where would they go? >> i think that's one of the three options that would make some sense. but i think what...
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Sep 4, 2012
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what can that mean but steve liesman. steve. >> seems likely the fed will act when it meets next week. three reasons, the data has been fair to midland with 2% growth seen as insufficient to bring down the unemployment rate and fed chair ben bernanke laid the groundwork suggesting quantitative easing could help the recovery and stagnation is a great concern. the open market committee said many voting members saw the need for additional easing quote-unquote fairly soon. the action would likely be a combination of additional qe and extending the period the fed forecasts it will keep interest rates exceptionally low. >> there's the old saw the fed does not like to act in the immediate precedent to an election, is that not true? >> it has acted before a presidential election and will if it thinks it needs to. >> simon, where do we stand? >> basically, tyler, investors are caught between two forces, the ecb will do what's necessary to hold the euro zone together with the board meeting thursday and on the other hand, the econom
what can that mean but steve liesman. steve. >> seems likely the fed will act when it meets next week. three reasons, the data has been fair to midland with 2% growth seen as insufficient to bring down the unemployment rate and fed chair ben bernanke laid the groundwork suggesting quantitative easing could help the recovery and stagnation is a great concern. the open market committee said many voting members saw the need for additional easing quote-unquote fairly soon. the action would...
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Sep 7, 2012
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you're right, we got to go. >> thanks, guys, nice chart by the way, steve. kudos to the graphics department. >> i know your real answer,ly not make you say it on the air. we'll see if this market can mount a comeback of some kind as we head toward the close right now. >> stick around, we're just getting starting on this big friday edition of the "closing bell." >>> coming up, in a fix, is the employment picture so break it may not matter who is in the oval office come january? and gun play, some weapon manufacturers are up as much as 250%. we'll tell you who they are and how to arm your portfolio. also, there is something about maria, she's on the ground in italy with the very latest news on what the world's leaders are saying about the state of the global economy. >>> welcome back, about 50 minutes left in the trading session. time for a quick market academic. if you're just checking in, the market is not doing much. this morning's disappointed job numbers throwing the rally into neutral. if you're a bull, you would say we have not had a big sell off. but t
you're right, we got to go. >> thanks, guys, nice chart by the way, steve. kudos to the graphics department. >> i know your real answer,ly not make you say it on the air. we'll see if this market can mount a comeback of some kind as we head toward the close right now. >> stick around, we're just getting starting on this big friday edition of the "closing bell." >>> coming up, in a fix, is the employment picture so break it may not matter who is in the oval...
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Sep 12, 2012
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joining us from detroit is steve case. he also co-founded aol and is a member of the president's jobs council. and thanks for bearing with us today. we're glad we get to talk to you. >> glad i get to be on. >> i know you're in detroit for a special conference. you want to explain what that is. >> right. well, it's a recognition that america's built by entrepreneurs, and over the past 200 years it's been spread around different regions of the nation. detroit was silicon valley, it was the hub of the most innovative industry that was driving the american economy, obviously the automobile industry. it's had a top half century, it's lost about half the jobs, but it's fighting its way back. and it's really talking about energy and entrepreneurship and education and health care and how this new technology revolution, the internet, and other things really enables regions like, like detroit to be more entrepreneurial again and there's a lot of start-ups happening in the regions across the nation. it's not just in silicon valley or
joining us from detroit is steve case. he also co-founded aol and is a member of the president's jobs council. and thanks for bearing with us today. we're glad we get to talk to you. >> glad i get to be on. >> i know you're in detroit for a special conference. you want to explain what that is. >> right. well, it's a recognition that america's built by entrepreneurs, and over the past 200 years it's been spread around different regions of the nation. detroit was silicon valley,...
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Sep 27, 2012
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. >> at least steve is. we've sent him down there to cover the situation on the ground and the's remarkable because we knew heading into the budget today that we might get some unrest, but i think it survived everyone how soon it began and the scale to which it has spread. speaking of which, protesters gathering in madrid raised their call for the spanish government to resign. demonstrators again clashed with police, which left 64 injured and led to 38 arrests. prime minister rajoy's reforms have proved deeply unpopular. out to steve sedgwick now who is following the story. steve, are we expecting the intensity of the protests to increase? >> i don't think we are. they've made their point in some cases violently. this is another protest scheduled for saturday evening. just have a look at what's going on in the sxaexact area. this is the neptune fountain, this is the heart of the madrid heart and we have the five star hotel that kelly i'm sure you've stayed at many a times. and this is the area which leads up
. >> at least steve is. we've sent him down there to cover the situation on the ground and the's remarkable because we knew heading into the budget today that we might get some unrest, but i think it survived everyone how soon it began and the scale to which it has spread. speaking of which, protesters gathering in madrid raised their call for the spanish government to resign. demonstrators again clashed with police, which left 64 injured and led to 38 arrests. prime minister rajoy's...
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Sep 13, 2012
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. >> steve's got to run into the meeting. steve, we'll see you in just a bit. that's the big deal here so we'll let you go. thank you very much. rick santelli, can you square the question? again, i'm not trying to belabor it, but unless the fed is saying we're the reason things are going to be better, i'm trying to square this idea that fewer of them see a rate hike next year but they're upping their growth outlook or am i completely off base? >> no. matter of fact, compared to where i am, you're right on base. i don't think even in a good normal year the fed could be accurate in a prediction two or three years out, much less in the times we live in. i still don't understand why the stock market being up 172 is going to make anybody who doesn't pay taxed which we need to lower the deficit because they don't have a job. i don't know how that situation is going to change. take it a step farther. i see the option adjustment spread, the bond rate is probably going to be lower but there aren't enough people able to re-fi. we'll go
. >> steve's got to run into the meeting. steve, we'll see you in just a bit. that's the big deal here so we'll let you go. thank you very much. rick santelli, can you square the question? again, i'm not trying to belabor it, but unless the fed is saying we're the reason things are going to be better, i'm trying to square this idea that fewer of them see a rate hike next year but they're upping their growth outlook or am i completely off base? >> no. matter of fact, compared to...
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Sep 18, 2012
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presidents of federal reserve bank steve liesman, what does it mean? >> you have dualing fed reports, about whether the central bank should have acted. what you find the past hour, president bill dudley laying out his challenges face the u.s. economy. he says access to credit you balance sheet repair going on, the fiscal drag from declining government spending, the european crisis and of course, the u.s. fiscal crisis. dudley says the consistent to askts consistent with maximum employment and price stability. charlie evans in chicago said given the list of economic woes, time for the fed to act with the problems we face and the potential dangers like ahead it is seention to do as much as we can to bolster the resiliency and vibrancy of the economy. we cannot be complacent and assume that the economy is not going to be damaged if no action is taken. but on "squawk box," dallas fed president richard fisher disagreed that, sake the fed can't fix what ails the economy. >> the real uncertainty stems from what my taxes going to be? what kind of spending patt
presidents of federal reserve bank steve liesman, what does it mean? >> you have dualing fed reports, about whether the central bank should have acted. what you find the past hour, president bill dudley laying out his challenges face the u.s. economy. he says access to credit you balance sheet repair going on, the fiscal drag from declining government spending, the european crisis and of course, the u.s. fiscal crisis. dudley says the consistent to askts consistent with maximum employment...
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Sep 14, 2012
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cnbc's steve weissman joins us with more. steve. >> andrew, thanks. i think it's hard to understatement what economists are calling a sea change in federal policy. one economist called it exceptionally aggressive. policy from the central reserve. to understand what ben bernanke has engineered, start with the fixed amount. the mormon you mental change in the forward guidance. let's remind you what they said. a highly accommodative stance will be appropriate for a considerable time after the economic recovery strengthens. take a look at gdp forecast, upped in the outlying years. you can see there, so the fed said it's going to remain, and 3.4% gdp growth. that's the change, they will remain low, even while groelwth exceeds the speed limit of the economy. moving on. here is the translation of all of that, if they can just move up their idea that comes out of a paper delivered by columbia university. the idea of how the fed would act when it recovers, that's dead. we'll change the way we react and stay low. bernanke didn't answer any question directly on
cnbc's steve weissman joins us with more. steve. >> andrew, thanks. i think it's hard to understatement what economists are calling a sea change in federal policy. one economist called it exceptionally aggressive. policy from the central reserve. to understand what ben bernanke has engineered, start with the fixed amount. the mormon you mental change in the forward guidance. let's remind you what they said. a highly accommodative stance will be appropriate for a considerable time after...
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Sep 12, 2012
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>> yes, i do, and it's either for steve or joachim. you've got the anticipation of qe-3, the decline, isn't that problematic? because you've got a value of a euro currency rising at a time they need the cheapest currency. >> why don't you take that? >> oh, yeah. it's right. the fed action has unintended consequences for others. and it's not only stronger euro, we've also seen upward pressure on emerging market currencies in the past. i think emerging markets at this point or many countries would not want to see their currencies appreciating. plus their growth is suffering. but these are the unintended consequences. i don't think this is a consideration for the fed. i think the fed wants to do what's right for the u.s. economy. >> steve, what affect does the stock market have on the fed's decision-making process right now? we're at 4 1/2-year highs, the dow, s&p, nasdaq has performed, as well. does that take pressure off for the fed to act? >> i think the other way around. i think our survey and i know the fed does its own survey, as we
>> yes, i do, and it's either for steve or joachim. you've got the anticipation of qe-3, the decline, isn't that problematic? because you've got a value of a euro currency rising at a time they need the cheapest currency. >> why don't you take that? >> oh, yeah. it's right. the fed action has unintended consequences for others. and it's not only stronger euro, we've also seen upward pressure on emerging market currencies in the past. i think emerging markets at this point or...
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Sep 24, 2012
09/12
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trading all the big moves right now with stephanie link, steve weiss, steve grasso. is it time to sell apple, the stock has run so far. do these sales justify that $680 price? >> the sales did justify it, scott. 8 million iphones. you can't sell them if you only have 5 million iphones. i think it's stupid the people who are saying this is the reason the stock is down today, that they came up short somehow. on the other hand, friday we did say there will be nervousness about the numbers over the weekend. and so we advised folks on your show sitting there on the new york stock exchange friday, scott, to say, it's a good time friday to take that money off the table. now, i still think that's accurate. i think that apple is going to do fabulous with this. i think with the 22 other countries that they're rolling it out in this friday, as well as the fact that 100 million devices were upgraded over the weekend, updated to the ios 6, i think all those numbers blow everything away. but the simple fact is you can't sell 8 million iphones if you don't have 8 million iphones in
trading all the big moves right now with stephanie link, steve weiss, steve grasso. is it time to sell apple, the stock has run so far. do these sales justify that $680 price? >> the sales did justify it, scott. 8 million iphones. you can't sell them if you only have 5 million iphones. i think it's stupid the people who are saying this is the reason the stock is down today, that they came up short somehow. on the other hand, friday we did say there will be nervousness about the numbers...
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Sep 27, 2012
09/12
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steve is a technology strategist at ubs, a buy rating on apple and a $780 price target which steve is on the low end of street consensus, actually. and this morning you were voicing some concerns based on channel checks with skyworks and some others about the supply of components. and you say that will actually decrease the number of units sold in the zm quadecember quar. >> well, that's right. my colleagues and i believe there may be constraints on the iphone 5 near term. we're looking for 38 million phones to be shipped in the december quarter. we were at 44 million. our sense is that probably due to the touch display, it's going to be difficult for apple to ship more than, say, 40 million or so. so we're taking a built of a conservative attack here. it's very much a supply issue. it's not a demand issue. we continue to think the stock should rise over the next 12 months. >> we have seen the stock decline ever since the first weekend of sales of iphone 5 as there are more concerns that perhaps they're not able to meet the demand out there. do you think that the stock has accurately
steve is a technology strategist at ubs, a buy rating on apple and a $780 price target which steve is on the low end of street consensus, actually. and this morning you were voicing some concerns based on channel checks with skyworks and some others about the supply of components. and you say that will actually decrease the number of units sold in the zm quadecember quar. >> well, that's right. my colleagues and i believe there may be constraints on the iphone 5 near term. we're looking...
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Sep 12, 2012
09/12
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>> they must hate iphones as much as steve jobs hated adobe and google. >> china mobile may not want to be in that camp where they have to lay out these subsidies. it's a big unknown in terms of the ability of the company to actually gain share. >> we need to find their new president, first, before -- >> that's true. >> right. missing for 11 days. >> he may not be missing. maybe just some place not known to us. >> known as missing. >> that cannot be good for the chinese consumer that reacts to thins of that nature. they've tried to not allow it to get around in china, but i believe it is getting around. >> if google -- if google -- >> if they pull back -- >> search, where's the president? nothing comes up. >> siri, where's the president? >>> facebook shares up since mark zuckerberg's interview. he called facebook stock's
>> they must hate iphones as much as steve jobs hated adobe and google. >> china mobile may not want to be in that camp where they have to lay out these subsidies. it's a big unknown in terms of the ability of the company to actually gain share. >> we need to find their new president, first, before -- >> that's true. >> right. missing for 11 days. >> he may not be missing. maybe just some place not known to us. >> known as missing. >> that cannot...
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Sep 28, 2012
09/12
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. >> he probably needed the break and that's the way it comes over, isn't it, steve. >> what on earth have we come toe when we are criticizing leaders for smoking a cigar? didn't jfk smoke? of course clinton, a very famous cigar smoker and all it implications there. and what about winston churchill, without his cigar, the icon wouldn't be quite the same. it's unfortunate that now you can't even smoke a cigar this public if you're a public figure. next you'll be saying the king of spain can't go elephant shooting. i don't know what the world's come to. >> should he go elephant
. >> he probably needed the break and that's the way it comes over, isn't it, steve. >> what on earth have we come toe when we are criticizing leaders for smoking a cigar? didn't jfk smoke? of course clinton, a very famous cigar smoker and all it implications there. and what about winston churchill, without his cigar, the icon wouldn't be quite the same. it's unfortunate that now you can't even smoke a cigar this public if you're a public figure. next you'll be saying the king of...
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Sep 4, 2012
09/12
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burton. >> gentlemen, thank you. >> i'll check it out, steve. >> steve forbes and bill burton. >> central banks, thank you. >> wildebeest, a gnu. gary ga-nu. >> i have a picture of a wildebeest. >> harwood probably doesn't know it's called a gnu. one thing that people come to twitter. >> i have people now sending me andrew dice clay jokes. i have a clean one for later. >>> when we come back, fed policy, the economy and the november election, we'll talk to neel kashkari on how to combat market uncertainty and global investment opportunities. >>> coming up in the next half hour we'll talk to democratic senator jack reed about what he expects to hear from the obama campaign at the convention this week. as we head to break, german kans lar angela merkel taking a short break from her worries, attended a bavarian beer festival some 3,000 people. >> that can explain a lot. the sd from capital one, sven's home security gets the most rewards of any small business credit card! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! w
burton. >> gentlemen, thank you. >> i'll check it out, steve. >> steve forbes and bill burton. >> central banks, thank you. >> wildebeest, a gnu. gary ga-nu. >> i have a picture of a wildebeest. >> harwood probably doesn't know it's called a gnu. one thing that people come to twitter. >> i have people now sending me andrew dice clay jokes. i have a clean one for later. >>> when we come back, fed policy, the economy and the november...
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Sep 25, 2012
09/12
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let's go to steve in new york. steve? >> caller: hey, jim. thanks for taking my call. hcn. >> i was telling people that that secondary is going to be good because they're buying sunrise senior living. i think hcn is still a good buy. matt in michigan. >> caller: yes. simon property. >> another one did a deal and i think that's expanding. hgn, those are for me. and that, ladies and gentlemen is the conclusion of the "lightning round"! [ male announcer ] if you believe the mayan calendar, on december 21st polar shifts will reverse the earth's gravitational pull and hurtle us all into space. which would render retirement planning unnecessary. but say the sun rises on december 22nd, and you still need to retire. td ameritrade's investment consultants can help you build a plan that fits your life. we'll even throw in up to $600 when you open a new account or roll over an old 401(k). so who's in control now, mayans? >>> you know that retail's been on fire lately. the good ones, i don't think they're finished. some of them could have a lot more room to run. that's why tonight
let's go to steve in new york. steve? >> caller: hey, jim. thanks for taking my call. hcn. >> i was telling people that that secondary is going to be good because they're buying sunrise senior living. i think hcn is still a good buy. matt in michigan. >> caller: yes. simon property. >> another one did a deal and i think that's expanding. hgn, those are for me. and that, ladies and gentlemen is the conclusion of the "lightning round"! [ male announcer ] if you...
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Sep 19, 2012
09/12
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steve grasso? >> profit margins will contract a bit here. i don't think anyone's paying attention to b.k.'s point. fundamentals don't matter at this stage in the game. i think they do. when they're hit smack in the face with these margins contracting, you're going to see the market retreat. i think we'll still stay above 1,400. >> grasso, thanks. seema, thanks, as always. >>> still ahead, final trades. >>> later on "power lunch" -- big news from groupon. the stock is soaring and the ceo is talking. adrew mason coming up in the 1 p.m. hour. we'll be right back. capital on, olaf's pizza palace gets the most rewards of any small business credit card! pizza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet?
steve grasso? >> profit margins will contract a bit here. i don't think anyone's paying attention to b.k.'s point. fundamentals don't matter at this stage in the game. i think they do. when they're hit smack in the face with these margins contracting, you're going to see the market retreat. i think we'll still stay above 1,400. >> grasso, thanks. seema, thanks, as always. >>> still ahead, final trades. >>> later on "power lunch" -- big news from groupon....
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Sep 13, 2012
09/12
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steve, it was an extraordinarily strong statement by the fed today. do you agree or no? >> i completely agree, sue. i think while the amount that was specified is what the market expected, i think the language is more than the market expected. it's very open-ended. i want to go through some of the language in it that tells you, all right, we're doing this now, but that is not necessarily it. first, as you all know by now, $40 billion monthly of mortgage-backed securities. i think there is a political element to that. we'll talk about that in a second. it will be reviewed in the coming months. but more is possible if the labor market does not improve substantially. what more? more can include other assets, not just mbs or more mbs. finally, this is really important -- the fed will remain ez "for a considerable time after the economic recovery strengthens." now we need to talk about that. that comes directly from an academic paper delivered at jackson hole by michael woodford. what's happening here is the federal reserve is changing what we call its reaction function. how
steve, it was an extraordinarily strong statement by the fed today. do you agree or no? >> i completely agree, sue. i think while the amount that was specified is what the market expected, i think the language is more than the market expected. it's very open-ended. i want to go through some of the language in it that tells you, all right, we're doing this now, but that is not necessarily it. first, as you all know by now, $40 billion monthly of mortgage-backed securities. i think there is...
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Sep 27, 2012
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let's bring in rick santelli and steve liesman. steve, first to you. i say the fed is practicing trickle-down economics. what say you? >> i say you can't have it both ways. my good friend and colleague rick santelli's going to complain that the federal reserve has really hurt savers in this world today, right? okay. so who are the opposite of savers? borrowers. if you're helping savers, you can't be -- you have to be hurting borrowers. so it's actually the other way around. they're hurting savers. they're hurting people who are clipping a coupon. >> no, no, no. if my mortgage is 3,000 a month, right? and then i refi and now it's $2,600 a month or whatever it is. >> right. >> the fed is hoping i take that 400 i've just saved -- >> right. >> -- and exchange it for goods and services that i reckon will at some point trickle down through more moving or whatever. that, my friend, is trickle-down economics. >> but what if your mortgage is $1,000 a month and you just saved $200 a month? you've just helped you who's saving $200 a month. what's wrong with that?
let's bring in rick santelli and steve liesman. steve, first to you. i say the fed is practicing trickle-down economics. what say you? >> i say you can't have it both ways. my good friend and colleague rick santelli's going to complain that the federal reserve has really hurt savers in this world today, right? okay. so who are the opposite of savers? borrowers. if you're helping savers, you can't be -- you have to be hurting borrowers. so it's actually the other way around. they're...
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Sep 26, 2012
09/12
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steve? spvmt. >> m.o. >> got it. >> long, starbucks. still think there is upside here. it's had a nice rally. >> i wasn't married to tammy faye baker. >> thankfully. abbott labs. >> potash. >> "power lunch "starts now. >> announcer: halftime is over. the second half of the trading day begins now. >> indeed. we are keeping an eye on a series of live events the markets will be watching closely. right now in madrid, a call for a second day of strikes after yesterday's violent protes against austerity measures. greece erupted this morning. why now and where do the markets and countries go from here? both canada dadidates for presi are duelling in ohio. both set to start four minute
steve? spvmt. >> m.o. >> got it. >> long, starbucks. still think there is upside here. it's had a nice rally. >> i wasn't married to tammy faye baker. >> thankfully. abbott labs. >> potash. >> "power lunch "starts now. >> announcer: halftime is over. the second half of the trading day begins now. >> indeed. we are keeping an eye on a series of live events the markets will be watching closely. right now in madrid, a call for a...
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Sep 25, 2012
09/12
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cnbc's steve liesman joins us and steve you've got some explaining to do about the numbers. >> i know we're going to delve into this mystery. so many americans think things are worse off than they were four years ago and so many americans seem to be supporting obama as the one to fix it. let's go into some of the possible reasons here. first of all let's show you the top line results here. this is what we showed in june, we asked a very end of the economic economy but not the same, romney had a six-point lead. our september survey, 800 adults, same people did it, shows a nine-point lead for obama. how can that be? let's look at some of the potential reasons. could it be slightly better economic numbers? no, they don't show up in the data. could it be somewhat better stock market? we do show some bump up in that, not enough to explain the results but three reasons look like they could stand here. change in racial support, the personal appeal of obama versus romney and the tax issue. let's look at the obama support june versus september. slightly different question, not entirely compara
cnbc's steve liesman joins us and steve you've got some explaining to do about the numbers. >> i know we're going to delve into this mystery. so many americans think things are worse off than they were four years ago and so many americans seem to be supporting obama as the one to fix it. let's go into some of the possible reasons here. first of all let's show you the top line results here. this is what we showed in june, we asked a very end of the economic economy but not the same, romney...
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Sep 25, 2012
09/12
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china looking more like a broke down palace lately, steve, but don't cheer. why we may need china a lot more than you think. >>> plus, college tuition looking more like a shake down street than the road to riches. the sad stats on just how unprepared american students really are. and are there any deals in the scrap heap of the worst s & p 500 stocks. >> the morning rally is a distant memory on wall street, the dow giving up a 61-point gain and then some to drop into negative territory. the s & p 500 also losing early gains and it is in danger now of a fourth straight losing session, something that has not happened, by the way, in nearly two months. the nasdaq is down for a fifth time in seven sessions, though it still has a nearly 3% gain for the month and 7 1/2% rise for the third quarter that is on its way to a hit. >> all right, mandy, thank you. >>> well, cnbcs aall-america survey was filled with more than just a touch of gray. it was down right confounding. example, the majority of those polled believe president obama will be better for the economy down
china looking more like a broke down palace lately, steve, but don't cheer. why we may need china a lot more than you think. >>> plus, college tuition looking more like a shake down street than the road to riches. the sad stats on just how unprepared american students really are. and are there any deals in the scrap heap of the worst s & p 500 stocks. >> the morning rally is a distant memory on wall street, the dow giving up a 61-point gain and then some to drop into negative...
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Sep 28, 2012
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with more on what's going on, steve? >> reporter: yeah, very good to see you guys aguy. in five hours' time that's when we're told we'll get this announcement which is the second part of a two-act drama. yesterday we had the first act which was the budget which pretty much ticked all the boxes from a european commission point of view, ie, spain was playing ball with all of the desires to work toward a fiscal compact and to work towards better regulation and better deficit control of the region. and today it's all about the banks, the big audit is expected to show a shortfall of bank funding of somewhere in the region of 62 billion euros. a lot of question marks about whether it's a 62 billion euros or actually under underestimates significantly how much money they need to raise, it's not about the big guys which are deemed to raise money whenever they want, it's about the second tier and third tier banks and we think the likes of bank inter will be at the crux of this. but questions remain whether they'll have to unload assets into a bad bank at a lower level than they'v
with more on what's going on, steve? >> reporter: yeah, very good to see you guys aguy. in five hours' time that's when we're told we'll get this announcement which is the second part of a two-act drama. yesterday we had the first act which was the budget which pretty much ticked all the boxes from a european commission point of view, ie, spain was playing ball with all of the desires to work toward a fiscal compact and to work towards better regulation and better deficit control of the...
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Sep 5, 2012
09/12
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steve just brought up the potential. now what i heard from mr. peck is there is opportunity. i love the fact that there is opportunity. we've been waiting on that. e-commerce, search, all the rest of the opportunities that lay out there. but those are still opportunities that we're still waiting on and, unfortunately, we need to get some more clarity and hopefully tuesday as you mentioned maybe is when we'll see a little more of that. i'd be curious if mr. peck decided at these levels is this a level he'd re-enter and buy a little more? >> he said in a couple years it'll be okay. in this space it's like a decade for the love of god. if you look at it, if he is going to sell in 12 months when do we all sell on this desk, ten months? stumd. >> simon, you like the yelp story. are you starting to like the facebook story? >> the revenue is still decelerating. there was an article by reuters saying facebook is down 34%. it is still expensive to the likes of google. i like the linked in story, yelp type of stories. if you're going to trade the name yes if you're going to stick it in
steve just brought up the potential. now what i heard from mr. peck is there is opportunity. i love the fact that there is opportunity. we've been waiting on that. e-commerce, search, all the rest of the opportunities that lay out there. but those are still opportunities that we're still waiting on and, unfortunately, we need to get some more clarity and hopefully tuesday as you mentioned maybe is when we'll see a little more of that. i'd be curious if mr. peck decided at these levels is this a...
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Sep 28, 2012
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also steve jobs as you have never seen him before. you'll see what we're talking about right after this. as we head to break look at this morning's early movers on wall street. now, that's what i call a test drive. silverado! the most dependable, longest lasting, full-size pickups on the road. so, what do you think? [ engine revs ] i'll take it. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado all-star edition with a total value of $8,000. hurry in before they're all gone! with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. take a look at the data feedback. i
also steve jobs as you have never seen him before. you'll see what we're talking about right after this. as we head to break look at this morning's early movers on wall street. now, that's what i call a test drive. silverado! the most dependable, longest lasting, full-size pickups on the road. so, what do you think? [ engine revs ] i'll take it. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado...
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Sep 24, 2012
09/12
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it remains a speculative stock that i like and want to pipe let's go to steve in new york. steve? >> caller: hey, jim. hchn. >> i was telling people that that is going to be good because they're buying sunrise senior living. i think hcn is still a good pipe matt in michigan. >> caller: yes. simon property. >> another one that's expanding. hgn, those are for me. and that, ladies and gentlemen is the conclusion of the "lightning round"! [ male announcer ] what if you had thermal night-vision goggles, like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research s
it remains a speculative stock that i like and want to pipe let's go to steve in new york. steve? >> caller: hey, jim. hchn. >> i was telling people that that is going to be good because they're buying sunrise senior living. i think hcn is still a good pipe matt in michigan. >> caller: yes. simon property. >> another one that's expanding. hgn, those are for me. and that, ladies and gentlemen is the conclusion of the "lightning round"! [ male announcer ] what if...
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Sep 27, 2012
09/12
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steve sedgwick, we have sent him to madrid. it's quieter today, steve, yes? >> this is where all the action was, the neptune fountain where the last couple of nights, especially two nights ago, we saw such hated action with rubber bullets and you can see a little bit of the barricades behind me which are still in place. same people who organized the disputes over the last couple of days, they are potentially having another one on saturday. and so we'll keep coming back until we get what they want. but they're not necessarily going to get what they want because this rajoy government are talking about cutting budgets across the board. ing a fridand the problem with n is not like greece that's the central government that created all the problems. actually it's the people themselves, the developers, the house owners and banks who basicry took on too much leverage and now the central government is being left to try to foot the bill. they're trying to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analy
steve sedgwick, we have sent him to madrid. it's quieter today, steve, yes? >> this is where all the action was, the neptune fountain where the last couple of nights, especially two nights ago, we saw such hated action with rubber bullets and you can see a little bit of the barricades behind me which are still in place. same people who organized the disputes over the last couple of days, they are potentially having another one on saturday. and so we'll keep coming back until we get what...
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Sep 10, 2012
09/12
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what they're trying to do, you know, steve has a fantasy. i have a fantasy for the money ball world we live in, whether it's the ecb, monti, draghi or the federal reserve, i would like to see them all move to grandstands and get off the field. but there's a flaw in what this comment says. let's substitute europe for the u.s. housing market. interest rates being low should have cured that. it didn't. it's not curing it in spain. interest rates being low isn't the panacea of growth. you need a plan. and it seems to me that he's going to be around till spring, probably will have elections in about seven or eight months. and like our own elections, i didn't hear him with any details other than what interest rates are going to be good in the near term. >> he does go through a plan. we'll bring the interview in the next hour. he says he has a plan in terms of making labor markets more flexible. we'll get into that. it occurs to me we're talking about the same thing, whether we're talking about europe or the u.s., because the fact is the federal re
what they're trying to do, you know, steve has a fantasy. i have a fantasy for the money ball world we live in, whether it's the ecb, monti, draghi or the federal reserve, i would like to see them all move to grandstands and get off the field. but there's a flaw in what this comment says. let's substitute europe for the u.s. housing market. interest rates being low should have cured that. it didn't. it's not curing it in spain. interest rates being low isn't the panacea of growth. you need a...
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Sep 17, 2012
09/12
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steve says it's all about the union. some people say, look, it's not the teachers. it's the teachers union. not for the kids. does he have a point? >> there's a bit of a point in there. i want to say that i think that the unions and the teachers should be back at work right now. i mean, the fact they have a framework should be enough to get them back in the classroom. in fact, it just shows what a lack of trust there is in chicago right now. i think ultimately, steve characterizes this as just being about supporting unions. if you actually get into the weeds about what they were striking for, they had some very good positions, reasonable positions. for example, this is the one that made the most sense to me. the idea you can evaluate teachers year to year, and actually put their jobs and careers on the line by test scores, year to year, when you're talking about a school system where 80% of the students come to school on reduced or free lunch, that's basically means that's the poverty rate. you're just asking the teachers to be held accountable for too much that's g
steve says it's all about the union. some people say, look, it's not the teachers. it's the teachers union. not for the kids. does he have a point? >> there's a bit of a point in there. i want to say that i think that the unions and the teachers should be back at work right now. i mean, the fact they have a framework should be enough to get them back in the classroom. in fact, it just shows what a lack of trust there is in chicago right now. i think ultimately, steve characterizes this as...
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Sep 20, 2012
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." >> i am steve grasso p. i am "fast money." with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >>> want to show you shares of microsoft. take look. microsoft shares have made a pretty significant move to the upside you can see on your intraday chart. helping to pull the dow -- obviously cutting its losses. dow still negative by about 11 poin
." >> i am steve grasso p. i am "fast money." with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you...
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Sep 5, 2012
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dave, steve, thank you. it's an almighty disaster at th. the associated press reporting tonight that president obama personally intervened to change the democratic platform language on jerusalem and on god after republicans blasted democrats for taking them out. it came up for a vote three times and democrats booed. listen to this. >> i will do it one more time. all those delegates in favor say aye. all those opposed say no. >> no! >> the opinion of the chair two-thirds voted in the affirmative. the motion is adopted and the platform has been amended as shown on the screen. thank you very much. [ booing ] >> here now prosecute the floor of the convention robert costa of the national review. first on israel they had to have a lot of votes to get jerusalem back into the platform. didn't sound to me like they had more ayes. >> that's what happened. on tuesday democrats omitted mention of jerusalem as the capital of israel and a mention of god. they did it quietly but there was a roar from activists and from the mitt romney campaign saying wher
dave, steve, thank you. it's an almighty disaster at th. the associated press reporting tonight that president obama personally intervened to change the democratic platform language on jerusalem and on god after republicans blasted democrats for taking them out. it came up for a vote three times and democrats booed. listen to this. >> i will do it one more time. all those delegates in favor say aye. all those opposed say no. >> no! >> the opinion of the chair two-thirds voted...
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Sep 24, 2012
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. >> steve kroft only attacks obama for not following up on what he said for liberals. >> he said the republican congress, it's your job as a leader. >> he asked why did you spend a year and a half on obama care fiddling while the economy crashed. >> we didn't talk about romney's taxes but that's separate issue. >>> more stories including a major apple supplier halting eruption at its chinese factory after violence erupts. i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all.
. >> steve kroft only attacks obama for not following up on what he said for liberals. >> he said the republican congress, it's your job as a leader. >> he asked why did you spend a year and a half on obama care fiddling while the economy crashed. >> we didn't talk about romney's taxes but that's separate issue. >>> more stories including a major apple supplier halting eruption at its chinese factory after violence erupts. i've been a superintendent for 30 some...
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Sep 5, 2012
09/12
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steve leisman is breaking it down. >> is it structural or cyclical, and is there anything the fed can do anything about? structural is a result of deep changes in the economy. things like globalization, a kills mismatch, unemploymented construction workers and engineering jobs. what about permanent lower growth? the key, i cording to some, is more monetary policy. take that away and look at what cyclical is. and things like temporary economic shocks, and earthquake, something like a hurricane. it can increase fland for employment, ber nak key said that qe boosted by two million payrolls. it went back up, never hit it's old level, and it took 19 years to midthat old level again. the united states over the same period. it went back up, back up, back down, and now here we are, if you can zoom in on the edge here. this is the big question for the fed, what's the right level of unemployment to come back down to. is the old number something we can attain, or is the level higher. we looked at it from different angles and it looks cyclical. '08 and '09, things like construction came mack. une
steve leisman is breaking it down. >> is it structural or cyclical, and is there anything the fed can do anything about? structural is a result of deep changes in the economy. things like globalization, a kills mismatch, unemploymented construction workers and engineering jobs. what about permanent lower growth? the key, i cording to some, is more monetary policy. take that away and look at what cyclical is. and things like temporary economic shocks, and earthquake, something like a...
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Sep 27, 2012
09/12
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we have harry melver, steve moore oig and phil reducer. steve, i went off the rails and went off hfr-i was so angry at this wall street news story story. romney tempers tax plan, dialing back his tax code, suggesting that he's going to remove tax deductions from the middle class. he didn't talk a bit about take home pay and lower tax rates. and frankly, i was angry and confused and if i don't get it, i suspect the public may not get it. >> yeah, i watched the show last night, i saw that anger. and i share that anger. you know, look, there's an order rule of politics, either you're on offense or defense. and too much of this campaign over the last month mitt romney has been on defense. he talked about his tax cut plan defensively. he was pulling back on it saying you're not going to get a big tax cut here because every dollar we give in you rate reduction we'll take away a deduction from you. that's not the way it to sell a tax cut. it's putting more money in people's pockets and be inning incentives. i want to see mitt romney that is much
we have harry melver, steve moore oig and phil reducer. steve, i went off the rails and went off hfr-i was so angry at this wall street news story story. romney tempers tax plan, dialing back his tax code, suggesting that he's going to remove tax deductions from the middle class. he didn't talk a bit about take home pay and lower tax rates. and frankly, i was angry and confused and if i don't get it, i suspect the public may not get it. >> yeah, i watched the show last night, i saw that...
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Sep 11, 2012
09/12
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because sell mir, of course, the star of ""boardwalk empire."" >> thanks, steve buscemi. final trades, next. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪ a passionate belief, and the foundation on whi
because sell mir, of course, the star of ""boardwalk empire."" >> thanks, steve buscemi. final trades, next. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get...
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Sep 5, 2012
09/12
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jerry jones and steve tisch in a "squawk box" exclusive. let's start with the top headlines, andrew. >>> let's talk facebook. it's promising not to sell stock to cover a $2 billion tax bill. it says it will cover that with existing cash and borrowing from credit facilities. as a result of the move, total outstanding shares will be reduced by 1.5 million shares. the company spinning it as a equivalent of buy back. the company disclosing rank and file employees can start selling stock they own starting on october 29th. that is the big day. and then a couple of other dates that will come after that. ceo mark zuckerberg, as joe was saying earlier, saying he won't be selling stock in the company for at least the next 12 months. you probably -- >> i would hope it goes up. >> you can only hope at this point. >> by the way, one other comment. i thought when the ipo first happened that he had said or people close to facebook were saying that he wasn't planning on ever selling his shares anyway, so -- >> doesn't want to dilute the stake. >> it is wha
jerry jones and steve tisch in a "squawk box" exclusive. let's start with the top headlines, andrew. >>> let's talk facebook. it's promising not to sell stock to cover a $2 billion tax bill. it says it will cover that with existing cash and borrowing from credit facilities. as a result of the move, total outstanding shares will be reduced by 1.5 million shares. the company spinning it as a equivalent of buy back. the company disclosing rank and file employees can start...
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Sep 25, 2012
09/12
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stick around there, steve. more reaction to all this right now. >> we bring in peter bookbar as well as christopher wayland. chris chris, are you surprised this survey shows romney is better on debt and obama is better at the economy? >> no. it remind me of 1936 when fdr ran for re-election. unfortunately, they were wrong and we went into a terrible decline after that. you know, americans are naturally optimistic. they see that kay shiler is up the past three months. they figure housing is getting better. i can tell you from our perspective at tangent where we spend our time raising money for funds and private companies, that's not the case. >> peter, what about in the meantime we have the fiscal cliff issues. is that keeping the markets in check right now? what do you think investors are waiting for or hoping for come december 31? >> well, the s&p 500 is near a multiyear high. i think the fiscal cliff is not what they're thinking about right now. i think right now, and i specify that the market's time has shru
stick around there, steve. more reaction to all this right now. >> we bring in peter bookbar as well as christopher wayland. chris chris, are you surprised this survey shows romney is better on debt and obama is better at the economy? >> no. it remind me of 1936 when fdr ran for re-election. unfortunately, they were wrong and we went into a terrible decline after that. you know, americans are naturally optimistic. they see that kay shiler is up the past three months. they figure...
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Sep 7, 2012
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steve, what's going on with the jobs story besides the fact that out's cooking obama's economic goose? >> i want to tip my hat to dean bak baker. you are doing a good job putting lipstick on the pig. the problem is this is a trend where we are seeing a downward trend over the last couple of years. last year job growth was decent. not great for a recovery, but decent. we are seeing a deceleration this year. we're not moving forward to use the phrase that barack obama used last night. we're moving backward. that's the real scary thing. dean, i think the explanation for this is a couple of things. i think the looming tax increase is putting employers on hold. one of the reasons the labor force participation rate is falling is because a this president is president of welfare, president of food stamps, unemployment insurance, medicaid. all of the government benefit programs i believe are holding people out of the workforce. it's a labor supply and demand problem. >> we just don't find evidence for that. a lot of people looked at it in terms of unemployment insurance. most people when they
steve, what's going on with the jobs story besides the fact that out's cooking obama's economic goose? >> i want to tip my hat to dean bak baker. you are doing a good job putting lipstick on the pig. the problem is this is a trend where we are seeing a downward trend over the last couple of years. last year job growth was decent. not great for a recovery, but decent. we are seeing a deceleration this year. we're not moving forward to use the phrase that barack obama used last night. we're...
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Sep 6, 2012
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steve liesman has got the latest. steve, we'll also get your thoughts on mario draghi. >> yeah. let me just tell you we've been able to go through the disclosure of fed chairman ben bernanke. his assets remain pretty much where they were in the prior year, in a broad range that we can cull from the documents between 1.1 million and 2.3 million. his biggest assets are two retirement accounts he has listed between 500,000 and 1 million. now, the interesting thing, he refinanced his mortgage last year at 4.25%. when was that, that was sort of in the middle of the year or towards about august before mortgage rates fell below 4% after the fed announced operation twist, so the fed chairman not doing a whole lot of market timing right there but didn't get his mortgage at the very best time. two biggest assets were retirement funds. continues to reap income between 100,000 and $1 million on textbookses that he has written when he was an academic back at princeton and before that. >> steve, i'm not sure -- given that he knows that they might extend the promise on low rates to 2015, i'm n
steve liesman has got the latest. steve, we'll also get your thoughts on mario draghi. >> yeah. let me just tell you we've been able to go through the disclosure of fed chairman ben bernanke. his assets remain pretty much where they were in the prior year, in a broad range that we can cull from the documents between 1.1 million and 2.3 million. his biggest assets are two retirement accounts he has listed between 500,000 and 1 million. now, the interesting thing, he refinanced his mortgage...